American Virtual Cloud Technologies (AVCT) Stock: Why It Surged Over 50% Today

By Amit Chowdhry ● Sep 22, 2022
  • The stock price of American Virtual Cloud Technologies (AVCT) surged by over 50% intraday today. This is why.

The stock price of American Virtual Cloud Technologies (AVCT) surged by over 50% intraday today. 

Why: Details revealed in a regulatory filing

Details: The regulatory filing shows that Ribbon Communications no longer has an ownership stake in AVCT. Ribbon disposed of 13,700,421 shares of common stock and 43,778 warrants.